Cape May, NJ vs Raritan, NJ

Cape May, NJ and Raritan, NJ have a very similar cost of living, with only a 1.3% difference in their overall index. Cape May scores 133 while Raritan scores 135 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Cape May is $1,013/month compared to $1,927/month in Raritan — a 47% difference. Interestingly, home values tell a different story: while Cape May has cheaper rent, Raritan actually has lower median home values ($449,200 vs $823,800).

Median household income in Cape May is $57,230 compared to $103,699 in Raritan (-44.8%). While Raritan is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Cape May spend roughly 21.2% of their income on rent, less than the 22.3% in Raritan.